Turkey Regulator Demands Bank Asya Information Before Sukuks (1)

Bank Asya
Bank Asya


Date posted: April 25, 2014

ISTANBUL

Asya Katilim Bankasi AS (ASYAB), the Turkish lender in partnership talks with Qatar Islamic Bank, must ask the regulator for permission to issue further sukuk under a 1.25 billion-lira ($587 million) debt program.

Turkey’s Capital Markets Board has asked to be informed of future issues, Cengiz Onder, head of investor relations at Bank Asya, said in a phone interview today from Istanbul. An official at the board, asking not to be named under government policy, said it’s seeking further documentation from Bank Asya before sales can resume, without giving further comment.

The lender is a member of the Tuskon business group, representing companies whose executives sympathize with U.S.- based cleric Fethullah Gulen. Prime Minister Recep Tayyip Erdogan says Gulen’s followers are behind corruption allegations from December. Turkish newspaper Sabah reported today that the Capital Markets Board has stopped Bank Asya from issuing sukuk debt, without saying where it got the information.

Bank Asya has sold 550 million liras in sukuk debt in small amounts with short maturities, and the Sabah story was based on false “speculation” that it was being blocked from issuing more, Onder said. The bank’s core focus will be on attracting deposits, he said.

In the six weeks after the corruption allegations became public, Bank Asya fell more than any other company on the benchmark XU100 index. The bank’s share price then climbed the most in 6 years after news of talks with QIB emerged last month.

Source: Bloomberg , April 24, 2014


Related News

An Eye-Opening Trek Into Turkish Society

WALTER RATLIFF* In Gaziantep, Turkey, the children at a local orphanage were recently asked to write about what they wished for most in life. The exercise was designed to help them think about their goals for the future. However, one child took the answer in a different direction: “I wish my parents could come back […]

Gülen issues condolence message for Iraqi victims of ISIL

Turkish-Islamic scholar Fethullah Gülen has sent a message of condolence to the families of the victims of the Islamic State of Iraq and the Levant (ISIL) terrorist organization in Iraq and he has condemned ISIL’s violence. Gülen’s statement, which addressed Kurdish, Turkmen, Arab, Yazidi, Shiite and Sunni families in Iraq, was published in the leading newspapers of Iraq’s Kurdish region such as Rudaw, Hawlati, Basnews, Kürdistany Nwe, Xebat and Çawder.

Fatih University graduates receive Feb. 28-like treatment at İstanbul University

Some graduates of the İstanbul-based Fatih University, affiliated with the faith-based Hizmet movement, have become the latest victims of the battle launched by the Justice and Development Party (AK Party) government against the movement, as they have been subjected to apparent discrimination during post-graduate interviews at state-run İstanbul University, reminiscent of the days of the Feb. 28 military coup.

Global Spying Network: Erdogan’s Worldwide Monitoring of Gülen Supporters

In his desire to convince the world that Gülen is a criminal, Erdogan has been demanding that the U.S. extradite Gülen for months. That also likely explains why the Turkish government is currently collecting information from all over the world. It needs incriminating evidence in order to substantiate the allegations against Gülen.

Kimse Yok Mu distributes aid to Syrian refugees

As Turkey is trying to meet the needs of the hundreds of thousands of Syrian refugees who have taken shelter in Turkey from the war in Syria, charity organizations have scrambled to launch massive aid campaigns to lend a hand to the embattled refugees, with Kimse Yok Mu providing food and aid for 2,500 Syrians in İstanbul every week.

Government media runs riot in smear campaign against Hizmet

A news article in Daily Sabah, the new, English-language member of the government’s media lineup, claimed on Monday that the police are ratcheting up measures to patch holes in their security network in order to prevent leaks by Gülenists, a derogatory term used to describe the Hizmet movement.

Latest News

Turkish inmate jailed over alleged Gülen links dies of heart attack in prison

Message of Condemnation and Condolences for Mass Shooting at Bondi Beach, Sydney

Media executive Hidayet Karaca marks 11th year in prison over alleged links to Gülen movement

ECtHR faults Turkey for convictions of 2,420 applicants over Gülen links in follow-up to 2023 judgment

New Book Exposes Erdoğan’s “Civil Death Project” Targeting the Hizmet Movement

European Human Rights Treaty Faces Legal And Political Tests

ECtHR rejects Turkey’s appeal, clearing path for retrials in Gülen-linked cases

Erdoğan’s Civil Death Project’ : The ‘politicide’ spanning more than a decade

Fethullah Gülen’s Vision and the Purpose of Hizmet

In Case You Missed It

Tables Have Turned for Some Media in Turkish Crackdown

Fethullah Gulen named the world’s No. 1 public intellectual

Medialog Platform hosts digital media experts from Europe and Asia

What does Turkey deserve?

Fethullah Gulen’s Message on New Defamation Efforts by Erdogan Regime

Prep school students dominate LYS university entrance exam

Police detain Bursa woman on coup charges a day after giving birth

Copyright 2026 Hizmet News